Posts Tagged ‘alumni’

Ray just got off a call from Chennai, India. The call was from a business partner, who now wants to expand Ray’s book of business internationally. This good news came weeks prior to a different partners’ meeting, a meeting celebrating the past. The three original partners got back their most recent financials, and they blew their year-end goal out of the water.

Ray Jorgensen ‘91’s firm, PMG, Inc., is in the business of helping low income communities get access to affordable health care. This mission, inspired by “men and women for others”, has earned PMG the privilege of being a top Revenue Cycle Management (RCM) firm serving the Community Health Center (CHCs) market. He has written several books and teaches healthcare practitioners about how to maximize their revenue for the healthcare services they provide. And amidst the uncertainty of health care reform, Ray and his two business partners have grown the PMG team from 3 to nearly 300 people to capitalize on an underserved, yet growing, niche market.

This journey supports the modern myth that entrepreneurs can control what goes on around them. It presents a story that Ray knew what he wanted to do after his 1991 graduation. It conjures a narrative that he knew exactly how to capitalize on the health care overhaul. It creates a belief that he always intended to have a business partner in India.

In fact, the opposite is true.

After Holy Cross, Ray was rejected from every law school he applied to, a non-compete clause challenged his startup’s growth, and his professional musician dreams sank.
As a result of these challenges, Ray is constantly battling an illusion of control. He adapts to uncertainty in an ever-changing market. The first step to battle this illusion is his own awareness that he cannot change things out of his power. The second step is controllable; most importantly, attitude and effort. Ray cannot affect an evolving environment, so he focuses on how to react to change. And with enough perseverance and persistence, he believes he can create his own luck too.
So how has he battled the illusion of control? How has he created his own luck? And what clues can other entrepreneurs follow to improve their chances at success?

The items below outline 5 areas in which entrepreneurs can control and in doing so create their own luck.

1) Expertise:Be a top authority in your industry
Ray credits PMG’s success in the healthcare industry to focusing on CHCs. Before this commitment, his business was scattered across many medical subspecialties from chiropractors to anesthesiologists. Although the business was diversified, there were many competitors in these subspecialties with more expertise than PMG. By focusing on being a top CHC authority, no competitor knows more than Ray’s team. In fact, as the nation’s leading provider of for CHC’s, PMG’s articles are often the only result to his team’s CHC Google searches. Although this is easy for Ray to realize looking back, how can others identify how to be an authority?

2) Information Gaps:Fill the information gaps others have missed
In 2006, PMG made the difficult decision to release the two-thirds of their book of business that were not CHCs. Although this decision sounds crazy, Ray applied his Holy Cross history major to research their hypothesis. His team validated that the government hyper funds CHCs at a rate higher than traditional fee-for-service Medicaid. PMG discovered what the competition had not: CHCs are part of the government healthcare safety net with exceptional reimbursement despite typically undesirably elevated percentages of Medicaid patients. This insight allowed Ray’s team to identify an information gap, accessible knowledge that the rest of his competitors didn’t understand. Although their 2006 book of business included many medical subspecialties, this broad knowledge allowed PMG to identify the information imbalance, which ultimately led them to focus on only CHCs. This is easy to identify in hindsight, so how can others identify and bridge the information gap?

3) Mentorship: Find a mentor to learn from the best
Before Ray started his own firm, he was learning about the entire healthcare billing business while working for a New England start up. The startup, which specialized in the RCM, allowed him to receive first-hand experience from industry experts. This was more than a job; this was a mentorship that allowed him to develop key industry knowledge, while still paying the bills for his growing family. The intellectual capital he gained over this time period served as the foundation to later start PMG with his partners. Identifying information gaps and becoming an authority may appear difficult, but finding a mentorship can significantly reduce this time and effort. While Ray was fortunate to have come across this opportunity, how can others find mentors to learn industry knowledge?

4) Complex Industry:Enter an industry with growing opportunities
Shortly after graduation, Ray took a job at Blue Cross Blue Shield, before ultimately switching to the provider side to focus on compensation maximization. The healthcare industry, with its growing demand and legal complexities, provided him a fertile environment to develop intellectual capital. The ever-changing market created new problems for established organizations, but Ray saw this adversity as an opportunity. Although Ray and his partners never knew exactly how healthcare reform would affect his business, their ability to identify problems and perceive them as opportunities, has led their team to become a top billing specialist in the CHC space. How should others narrow their search for a growing industry?

5) Passion:Choose a profession with meaning
Ray believes that everyone, rich and poor, should have access to healthcare. The healthcare industry and the CHC subspecialty, empowers him to create change in the lives of people who need it most. Yes, billing may not sound glamorous, but PMG makes a real impact every day. Although his job hasn’t always been smooth sailing and he hasn’t always had control of the helm, finding a meaningful career has allowed him to weather the storm as he awaits calmer waters.

So how do you create your own luck and start on the path to successful business?

Ray believes the first step to battle the illusion of control is to be aware of it. The second step is to control what is controllable. So create your own luck: choose a career with meaning, identify growth areas, find a mentorship, fill the information gaps, and become a top authority at what you do. It has been a 20+ year journey for Ray, from the midnight shift at Blue Cross Blue Shield to being his own boss. During this journey, he has come to the conclusion, “Life works serendipitously, but the gradual persistent development of expertise is repeatable.”

At his team’s celebratory dinner last month, he made a toast. The toast was simple – “to the complexities of Healthcare.” Although PMG continues to blow their 2014 goals out of the water, it could be said that Ray actually prefers to be in the water. He gave up swimming against the ambiguity; in fact, Ray has grown fond of swimming with it.

Ray Jorgensen ‘91 has been President and CEO of Priority Management Group, Inc. (PMG) since 1998. Responsible for oversight of consulting operations strategic leadership, national speaking, and board work for PMG’s companies, Ray has personally trained thousands from all 50 states on coding, billing, and reimbursement in addition to authoring several books and dozens of articles.

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Thanks to our writer, Andrew Marzo ’14. He is an aspiring entrepreneur who believes that founders do not find their business, they create opportunities. He suggests that the prevalent entrepreneur narrative is a myth, and believes a new narrative is necessary. Through articles, conversations, and interviews, Andrew hopes to deconstruct this illusion and leave behind breadcrumbs for future entrepreneurs to discover on their own journey.

Check out the new COES instapage and follow us @HCPrebusinessWatch for our next blog post…

The Ciocca Office of Entrepreneurial Studies Office worked with the HCEG Alumni Group to host the bi-annual HCEG Boston Networking Event last month on Thursday, October 23rd at the Racepoint Global offices on State Street. It was a fun-filled night with good company, food and drink. Present alumni covered a broad area of careers from commercial real estate to communications to c-level executive at technology companies. The theme of the night was “The Ability to Adapt to an Ever-Changing Market” and this topic was covered by the keynote speaker of the evening, Ray Jorgensen ’91. He is the President and CEO of PMG which specializes in revenue cycle management for community health centers. Ray gave a powerful speech on the art of adaptation in a career.

He broke this concept into three separate ideas to become successful in a perpetually changing career.

1) Find a “Hedgehog Concept”
a. Do what you love
b. How can you be the greatest in the world at what you do?
c. Success is very gradual until you hit a tipping point in which it skyrockets

2) Be Resilient…Persevere!
a. Fail and learn
b. Jim Collin’s Stockade paradox: the resilient and realistic persevere, not the optimists in the world

3) Be “Lucky”
a. Create your own like; be in the right place at the right time and out work everyone
b. Solid support network
c. Good fortune is rarely unplanned
d. Control what you can control: your attitude and effort

Ray’s speech was incredibly informative, entertaining and relevant to his audience. The Holy Cross community is truly fortunate to have such successful and passionate alumni like Ray who are willing to share their advice and story. Next time we hope to have more students in the mix for networking! Watch for the spring event registration.

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Thanks to Matt Campbell ’15, for attending the Boston event and writing this succinct review. Great keynote, great food/drink and great networking! As always, don’t forget to “like” COES on FACEBOOK and follow us @HCPrebusiness

The Holy Cross Entrepreneurs Group of New York City held its second networking event of the year at Bryan Cave on Wednesday evening, July 23. The evening was a great success, as many alumni and students attended. Professor David Chu, Director of the Ciocca Office of Entrepreneurial Studies & Pre-Business Adviser, also attended the event.

Many thanks to those who participated on the panel, including Michael Barrett ’84, CEO of Millenial Media, Chris Nace, ’06 VP Executive Search at Connections NY, Colin Cunningham ’09, Manager at Axial, and moderator Andrew Cialino ’10, Senior Account Executive at Axial. A hearty thanks goes to Patricia Werner ’97, Counsel at Bryan Cave LLP, who hosted the event at the law firm. Patricia is also a member of the Steering Committee for the Holy Cross Entrepreneurs Group of New York City, along with Daniel Barrett ’93, Andrew Cialino ’10, Colin Cunningham ’09, and Chris Nace ’06.

The alumni panelists focused their insights on leveraging one’s network effectively in the technology sector. With today’s growing tech space, whether pertaining to startups or to the field in general, it is important to understand industry basics. More importantly, both students and alumni should know how to recognize and utilize technology’s benefits in an entrepreneurial way.

The panelists addressed various issues under this umbrella topic, such as how to secure a job in the tech industry, how to reach out and successfully network within the field, and what kinds of tactics both students and alumni may leverage when acclimating themselves to the tech sector.

As always, this networking event successfully fostered that famous Crusader spirit and alliance, as alumni and students were brought together under the same passion for entrepreneurship. The goal of these events is to further the mission of HCEG of creating more entrepreneurial relationships, so that the Holy Cross community is not only a group of “men and women for others,” but also a community of men and women for each other.

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Thanks to Sydney Pugliares ’16 for covering this event and to all the alum sharing insights to the tech industry! As always, don’t forget to “like” us on FACEBOOK and follow us @HCPrebusiness

The Holy Cross Entrepreneurs Group of Boston held its spring networking event at McGladrey on Thursday evening, June 12, 2014.A remarkable number of Boston alumni attended the event, along with the students participating in the Holy Cross Summer Business Program. This opportunity gave students the opportunity to practice their networking skills and expand their alumni circle in a professional setting. Professor David Chu, Director of the Ciocca Office of Entrepreneurial Studies and HC’s Pre-Business Adviser, also attended the event accompanied by several other members of the College administration and the Pre-Business Office.

While the event cultivated that classic Holy Cross spirit, the evening’s host, Bob Allard ’91, proved most energetic of all, with his insights on Servant Entrepreneurship: How to Survive in a Not-Just-for-Profit World. The Managing Partner of ExtensionEngine LLC explained how “Servant Entrepreneurship” is in fact NOT an oxymoron, but rather a strategy that all successful business gurus recognize and utilize.

Allard placed significant focus on the benefits of networking, giving anecdotes and valuable advice that have aided him in the ongoing process of entrepreneurship. He explained how it is often “who you know” along with (and sometimes more important than) “what you know” that will help you succeed in business. However, Allard took this philosophy one step further to note how it is also “who you help” that will lead you to success. He explained how “paying it forward” in the world of networking will come full circle — a sort of entrepreneurial “karma,” per se.

After Allard’s discussion of “Servant Entrepreneurship,” the alumni and students returned to more networking fueled with even more enthusiasm than before, as his insights gave more purpose to the event. Alumni Tom Brennan, CFO of AbilTo, Inc and Ray Jorgensen, Co-Founder & CEO of Priority Management Group, Inc. (PMG), also helped to facilitate discussion regarding these topics of entrepreneurship and networking.

Many thanks to those who helped in organizing this successful event. A big thank you to Bob Allard ’91, Tom Brennan ’86, and Ray Jorgensen ’91 for facilitating such valuable discussion of entrepreneurship during the event.

It is always an honor to host such successful alumni at events that bring together a variety of stories and passions, as each attendee is linked with the same drive of entrepreneurship and Holy Cross identity. The connections made during these events are instrumental in furthering the HCEG mission of creating more entrepreneurial relationships. Our goal is to foster the Holy Cross community as not only a group of “men and women for others,” but also a community of men and women for each other.

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Thanks AGAIN to Sydney Pugliares ’16 for helping to organize, attending and writing this summary of the event! Be sure to like us on FACEBOOK and follow us @HCPrebusiness!

The Holy Cross Entrepreneurs Group of NYC hosted its inaugural event on Thursday evening, April 3 at the Time Warner Center Screening Room in midtown Manhattan.

The event was bustling with alumni representing classes from the 1970s to 2013. Also in attendance were members of the College administration, and Professor David Chu, Director of the Ciocca Office of Entrepreneurial Studies and HC’s Pre-Business Advisor.

Many thanks to those who helped organize the event, including Kristen O’Hara ’92, CMO of Time Warner Media Group, who generously secured the Screening Room, HCEG-NYC co-founders Andrew Cialino ’10 and Colin Cunningham ’09 who managed marketing and social media outreach along with the Holy Cross Alumni office. The event was financially supported by a number of individuals and two company sponsors. Those sponsorships were arranged by J.D. Rehm ’88, co-founder of Mercury Group and Patricia Werner ’97, attorney at Bryan Cave LLP.

HCEG-NYC co-founder and the event’s host, Dan Barrett ’93, opened the event with a question: Why a Holy Cross Entrepreneur’s Group? In response, he expounded on two points. First, that alumni involved in entrepreneurial activities or servicing entrepreneurs have lacked a networking organization that has so long existed in other fields, such as law and finance. And second, alumni and students would greatly benefit from efforts to raise the profile of the College among entrepreneurial leads in the NY Metro area. HCEG-NYC would provide a professional networking organization in to help fulfill these goals.

Dan also shared interesting data on entrepreneurship among HC alumni. Using information gathered from the alumni office database, he noted that approximately 200 alumni have ‘founder’ or ‘co-founder’ in their job title. These individuals come from classes as far back as 1945 and as recent as 2013. The majority of these alumni reside in Metro NY, Boston, California, Maryland/DC and Florida as the top five locations. The list also revealed a wide variety of fields in which these alumni worked, including non-profits, finance, and consulting in addition to traditional entrepreneurial fields, such as technology and communications.

The evening culminated in the hour-long discussion with Tom Keirnan ’92, serial entrepreneur and currently co-founder and CEO of ClickPay, and Jack Hanlon ’06, co-founder and VP of Product and Data at Kinetic Social. In January, Jack also received the distinction of being named to the Forbes 30 Under 30 for the Marketing and Advertising industry for his transformational work at Kinetic.

Tom discussed how his early involvement in web development during the early days of the internet played a transformational role in his career and development as an executive or founder of several digital ventures over the past two decades. The concept of working for himself came as a result of advice from his father, as well as the training he received as a student. He stressed the value that a broad-based, liberal arts education provides an entrepreneur not only with the ability to think critically, but also with the skill set to solve problems and learn new tasks quickly. These skills, he claimed, were instrumental to his success thus far.

Jack added that his time at Holy Cross allowed him to explore various avenues which jumpstarted his passion for entrepreneurship. He was one of only four Music majors in his class, and he organized a thriving Ultimate Frisbee club on campus. These activities at Holy Cross required many of the same skills he leverages today at Kinetic.

It was a privilege to host such successful alumni speakers and hear their entrepreneurial stories. It is our hope that they provide an inspiration to all in their efforts, and that HCEG as a community can in the future cultivate even more talent and ideas to further our mission of connecting with each other on a professional, entrepreneurial level.

On February 24, Holy Cross alumni who have distinguished themselves as leaders in the commercial real estate business shared their wisdom, advice and experiences in a COES event focused on educating students about careers in real estate.

James Whelan ’00, Senior Vice President at Bank of America Merrill Lynch, and Colin Blair’00, Account Manager in the Corporate Services Group at Cushman and Wakefield, described some of the opportunities in the industry before introducing keynote speaker John Power ’80, Principal and Co-Founder of Fairley, White. Four panelists, Matt Harvey ’02, Principal at Cresa Partners ; Sean Duffy ’86, Executive Director, Brokerage, at Cushman and Wakefield; Catherine Britt ‘04, Senior Project Manager at Northstar; and Tim Mulhall ’10 of Colliers International also offered advice on how to stand out as a potential intern and job candidate.

As someone who has been knocking on the door or real estate companies for the past several months, I was especially interested in hearing their views on what it takes to break into, and succeed in, the industry. Their response: passion, persistence and networking.

John Power, who has more than 30 years of experience in the field , sought advice from another Holy Cross alum, Bill McCall, and described how standing in McCall’s office, he became fascinated by the buildings he saw through the window. He began to imagine the possibilities for the building and knew from that moment that he wanted to be involved in commercial real estate. “Commercial brokerage is the best profession. It involves no risk, and it offers high rewards. But you must be willing to invest your time,” stated Powell.

Here are some other insights:

— All majors can apply. Both Whelan and Blair pointed out that commercial real estate offers opportunities for students of all majors and with a variety of interests, whether it is sales, finance, law, or marketing. Work ethic and personality matter more than major.

— One building, many opportunities. Every building offers a range of transaction/business opportunities: sales, rentals, leasing, purchasing, financing, management/operations, etc. This is what makes the industry so dynamic.

— Learn the business first. Harvey stressed that new recruits should take the time to learn the business and not be frustrated if they aren’t involved in big deals right away. Knowledge about the business will help you in future deals.

— Sell, grind and build relationships. Duffy emphasized that every day you need to sell both yourself and the product. He reminded attendees that relationships matter, always – and that persistence pays off.

— The Holy Cross advantage. Power pointed out that Holy Cross students have an advantage in the field because of the school’s high reputation in the real estate industry. Mulhall added that his Holy Cross education boosted his confidence and gave him an edge because his writing was stronger than his peers.

The lesson? Holy Cross’ liberal arts curriculum and the reputation of its alum can help open doors to a vast array of career opportunities in commercial real estate.

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Thanks to Kevin Kennedy ’16 for covering this event and to all the alum sharing insights to the real estate industry! As always, don’t forget to “like” us on FACEBOOK and follow us @HCPrebusiness Watch for our next blog post…

Sorry for the delay! Here is the final installment of Frank DeLeo’s ’14 guest blogger series. We are so excited to here how it all ended!

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Game day: Friday, June 22. The big day had finally arrived. Four weeks of preparation and hard work has lead up to a mere 30 minute presentation. We practiced for hours upon hours. Execution was the final step, and my team was determined to knock ‘em dead.

That morning I woke up at 6:30 to meet Mr. Corria and the team at 7 before the first presentation started. Although our presentation wasn’t until 10, Mr. Correia couldn’t speak with us once the competition began at 8. We ran through our presentation once more, and Mr. Correia gave us a pregame speech that calmed our nerves (for the time being). He told us that we knew the information, and how he was more than confident in our ability.

The team decided to take an hour to go back to Carlin, get dressed, and get in the zone. We met up at 9:15 outside the Science Library. Dressed to impress, the team decided to run through the presentation one final time. As 10 a.m. kept getting closer and closer, nerves surfaced. At any moment we would be called in…

Personally, I believe that our presentation went off without a major hitch. We all remembered our transitions; however, each of us fumbled over a couple lines, but recovered nicely. We were all nervous, but then again who wasn’t? I think we got our point across and articulated ourselves clearly. The professionalism that a corporate presentation should have was unmatched by any team. Business cards, transitions, dress, and mannerisms were all perfectly executed. I couldn’t have been happier with our performance.

After the presentations, it felt as if a weight had been lifted off my shoulders. Walking back to Carlin, I couldn’t believe four weeks flew by that quickly. I got changed into casual clothes for lunch and sat in the AC of the science building until it was time to hear the results.

Unfortunately, my team didn’t come away with a win in either the elevator pitch or the Home Depot presentation. Despite this fact, Mr. Correia told us how proud he was of us during his reflection on working with us as a team. Hearing him talk so highly of us was uplifting and motivating. Although we all wanted the win, the SBP was about the experience.

The Summer Business Program was a phenomenal opportunity that taught me so much about the world of business. After participating in the ELW, the in depth business exposure I was looking for was fulfilled, especially in marketing and advertising. There were so many aspects of business I had no clue about. From finance to global expansion and everything in-between, I have pages of notes on every subject.

One of the greatest aspects of the program, in my opinion, was meeting distinguished Holy Cross alumni. Every person that spoke volunteered to educate the next generation of crusaders. Through numerous conversations, the business world isn’t as mysterious as I once thought. I am optimistic about becoming successful in the business world despite being a psychology major. Through my time in the program, I have gained a newfound interest in pursuing a career in business (if law doesn’t work out). Interning is definitely my next step.

Aside from the speakers, the mentors deserve a special thanks and separate category as a reason someone should do the SBP. The six mentors took 4 or 5 individuals under their wing to guide them through the project and teach them everything they could about business.

For my team, Mr. Correia was always excited about working and educating us with his expertise. He was constantly there for help and to ask questions because of the immense amount of information we needed to absorb. In addition, my team learned about professionalism and presentation skills, not only business. One quote that will never leave me is, “Tell ‘em what you’re gonna tell ‘em, tell ‘em, tell ‘em what you told ‘em.”

Overall, the SBP yielded valuable information and honed my presentation and leadership skills. Much of what I learned is applicable now and in the future: making ethical decisions, public speaking, organizing a presentation, and networking just to name a few.

When I signed up for the SBP I thought I’d never like business because it was only about numbers. Through the program, I came to the realization that the business field is so much more than finance. I now have an open-mind to a potential career in business down the road.

Teams 3 & 4 took home the prizes, but all of our students deserve a huge congratulations for their hard work and dedication. SBP was a huge success and COES can’t wait until next year! Check our our facebook page for pictures and updates on SBP!

As always, don’t forget to “Like” us on FACEBOOK and look for our WIB, SBP and ELW groups on LinkedIN!

Week four began our quest to obtain a victory on Friday after all the trials and tribulations of the Summer Business Program. The stress and anxiety set in early when trying to perfect our presentation. Every bullet, every sentence, and every movement had to be rehearsed and scripted. The PowerPoint needed to be clear and concise to get our ideas across. Most importantly we needed to look and sound our best in order to be the epitome of a real business presentation: professional.

The week began with a session on career planning. Taught by Pam Ahearn and Amy Murphy, we learned the nuisances of navigating the Holy Cross website and LinkedIn to find alumni not only for internships and jobs, but also for informational interviews.

The Holy Cross network is a phenomenal resource that I will continue to tap into during my last two years at HC, and even after graduation. I still don’t know what I want to do with my life after college, but I have a strategy to piece together my varying interests. By taking advantage of everything Holy Cross has to offer: the academic internship program, study abroad, ELW, SBP, etc, I can gain a better understanding of my likes and dislikes.

During my journey, I know that the network is always there for me to ask questions. The most important take away from the session was that alumni want to help, so I should never hesitate to contact them. After Monday, my two primary summer priorities became networking and setting up my LinkedIn profile.

As the week went on we were taught how to use Microsoft Office tools such as PowerPoint and Excel. Wednesday’s session on PowerPoint and presentation skills with Jessica Blau’08 and Roger Lobo ‘04 provided pertinent information to incorporate into the pitch.

During the session, we learned about tips and tricks for PowerPoint, verbal delivery, and slide content. My team took this new knowledge and touched up our presentation before we asked Ms. Blau to film our first dry run. I always hate watching myself on film, but the team and I discovered a lot from watching ourselves. We were able to see areas in which we could improve and mistakes that needed to be corrected by Friday. Thursday was the day to make those corrections.

When Mr. Correia told us that Thursday meant perfection, he wasn’t kidding. The team had no idea what to expect at 10 a.m. for the start of our meeting in Smith 155. We began with sharing all of the new information we had learned in our sessions, in addition to our perfected PowerPoint. From there, we jumped right into the dry runs. Every movement and sentence was scrutinized. People forgot lines, swayed in place, stepped forward wrong etc. Each time we made a mistake Mr. Correia would say, “Do it again.”

After a few tries, we got the hang of it. All that remained was being able to control our nerves the next morning and remember the transitions. We were confident in the content of our presentation and our ability to pitch the information. We simply needed to execute.

At 2 p.m., Mr. Correia had to go talk to the parents at Gateways. His wife couldn’t make it, so he needed someone from the team to go with him. I volunteered to talk to the parents with the mentality that I’d be sitting on a panel answering questions. Oh how wrong I was. It turned out that I had to speak in front of an almost full ballroom of parents with no preparation. I was terrified, but it was a great public speaking experience. I told my story and explained how the parents should let their children grow up, but still be involved in their lives for support and advice.

After my near heart attack, the team reconvened and decided to go practice separately for tomorrow. We had rehearsed so much that we needed a break to get our heads on straight. Mr. Correia left us to work by our own accord, and trusted us to be ready for game time, 10 a.m. Friday morning.

We were as ready as we’d ever be.

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I can’t wait to find out how they did! Thanks again, Frank!

As always, don’t forget to “Like” us on FACEBOOK and look for our WIB, SBP and ELW groups on LinkedIN!